Measuring Responses Which Scale of Measurement Provides the Least Information

question 49

Multiple Choice

Measuring Responses Which scale of measurement provides the least information about a variable's magnitude?

• A)nominal
• B)ordinal
• C)interval
• D)ratio

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Definitions:

IRR

Internal Rate of Return represents a financial measure for assessing the potential profitability of investments.

Marginal Cost

The cost added by producing one additional unit of a product or service.

Average Total Cost

Calculated as the total cost of production (fixed plus variable costs) divided by the total output, indicating the average cost per unit produced.